News meat prices
FAO: 'Meat prices fell worldwide due to corona'
Meat prices have fallen worldwide in 2020 as a result of the corona crisis. The World Food Organization (FAO) reported this this week. In particular, introduced import restrictions, problems in the logistics chain, but also greater availability were the main causes of the falling prices.
The average FAO meat index fell by a total of 4,5 points last year compared to 2019. The index averaged 95,5 points last year. That is perhaps below the number of points of 2019, but still above the average of 2018.
The drop in prices is striking, because the total amount of meat traded increased in 2020. This increase was caused by the large amount of pork imported by China. China imported 11,7 million tons of pork. That is 57,6% more than in 2019. This did not lead to higher prices for pork, because there was more than enough pork available in exporting countries.
The largest price decrease was for poultry meat. Poultry meat prices fell by almost 10% in 2020. The price corrections for pork (-3,6%) and beef (-1.4%) were less sharp.
Light recovery prices
Although prices fell sharply in 2020, average prices have recently recovered slightly, according to the FAO. Cattle prices in particular rose again slightly. This is in contrast to pigs and poultry where international prices were still under pressure until February.
After a low of 91,5 points in September, the average meat price index rose to 96,4 points in February. However, that is still 4,1 points below the February 2020 level.
Steve Wissink
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